Boards' contribution to strategy and innovation

Among the most disputed issues within the business arena and among academic scholars are which role boards of directors are expected to fulfill, and how they contribute to a company’s success and survival (Monks & Minow, 2008). Recent failures of large corporations worldwide has led corporate governance and strategic management scholars to call for increased board involvement in decision-making (Tricker, 2009) that has paralleled regulators’ requests for higher monitoring and punishments in the case of frauds and misbehaviors (Coffee, 2005)